Aspora raises £39m in Series B funding co led by Sequoia and Greylock to expand cross border banking.
Sequoia and Greylock co led the Series B round for the immigrant focused fintech firm.
Aspora builds financial services and cross border banking solutions tailored for global diaspora communities, starting with non resident Indians. Formerly known as Vance, the firm operates across the UK, UAE, and EU.
Aspora has secured £39m in a Series B funding round co led by Sequoia and Greylock, with participation from Quantum Light Ventures. The fresh capital will support the fintech firm as it scales its cross border financial ecosystem and prepares for upcoming launches in the US, Canada, Australia, and Singapore.
The company has experienced rapid growth recently, seeing transaction volumes surge past £1.5bn and growing its user base to 250,000 customers. Previously operating under the name Vance, Aspora continues to attract backing from notable existing investors including Hummingbird Ventures, Soma Capital, Global Founders Capital, and Y Combinator.
From the founder
"The latest fundraising allows us to accelerate our mission of building a truly global financial ecosystem for diaspora communities. We’re just getting started our users deserve modern financial infrastructure that works across borders."
Parth Garg
Founder and CEO at Aspora
Investor perspective
"Aspora is bringing diaspora banking into the modern age, enabling many millions to participate in the growth stories of their home countries. This isn’t just about digital banking; it’s about the new opportunities Aspora can create for immigrants all over the world. We were proud to be among Aspora’s first believers by leading their Series A late last year and after seeing the team drive payment volume to $2B. We’re excited to double down and co-lead their Series B as they scale and expand into the US, Canada, and Europe."
Luciana Lixandru
Partner, Sequoia
Use of funds
- 01Expand into international markets
- 02Continue product development